New to Investing in Southeast MI

[Nicholas Bastianelli]

Hey everyone!

My name is Nick Bastianelli and I am brand new to Bigger Pockets. My wife and I are 25 and 29 respectively, we have two awesome kids,  we own two CrossFit gyms and I just became a real estate salesperson in the last couple months.

I read a ton of books and listen to a ton of podcasts and Rich Dad, Poor Dad really kicked off this interest for me a couple months ago.

I grew up in a family that didn’t have much money and have been working very diligently to develop myself in the areas of personal finance and investment so that my wife and I can build a great future for ourselves and our children and set a solid trajectory for the generations to come. 

I do not currently own any rentals although I am very interested in buy and hold rentals. Maybe. I think? But to be honest, I actually have no idea what I’m doing and am completely open to suggestions and learning from those of you who are more experienced.

I am from a construction family and did construction myself so the idea of flipping a home is extremely appealing (I love doing construction and building and renos) BUT the time investment and risk associated if a property undersold seems unnecessary at this point. There must be a safer, better way?

I should note we have no money saved or put aside for me to get started here and I’m not likely to have the means to accumulate a solid chunk of change in the very near future. We have a solid amount of equity in our home but tons of debt in student loans and a little CC debt we’re working slowly to wipe out (will have gone within 15 mo). 

Think that may be too much info but figured the more honest I was, the easier it’d be to get where I’d like to go.

Excited to learn! Thanks Bigger Pockets and thanks in advance to anyone who who replies. 

[Brandon L.]

Hello! @Nicholas Bastianelli

Welcome to BP, and congratulations on making the decision to invest in your future via real estate.

I have written a few blog posts that may help you get started here on BP, and with your investing. Please click on the links, give them a read, and share your thoughts in the comments.

First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:

https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp

The second is a post that will help get you focused with your real estate investing goals:

https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciated

The last one is a post that will help you choose an “investor friendly” real estate agent.

There are many agents out there, but it’s important to choose the right one.

https://www.biggerpockets.com/blogs/5868/52724-im-new-to-investing-how-do-i-find-an-investor-friendly-agent

I love answering questions if you have any! Good Luck :)